Tariffs reallocate income from
A) consumers to producers.
B) producers to consumers.
C) government to producers.
D) consumers to foreigners.
A
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If hot dog vendors at baseball games want to maximize their total sales revenue, they will have to
A) be willing to experience reduced hot dog expenditure by baseball fans. B) set the price of their hot dogs so that the demand is unit elastic. C) sell as many hot dogs as they can, even if it means lowering price. D) raise their price, even if it means selling fewer hot dogs.
At the beginning of the 1980s under Chairman Paul Volcker, the Fed
a. stressed control of interest rates over control of the money supply b. did not seem to favor either control of the money supply or of interest rates c. changed the emphasis between controlling the money supply and controlling the interest rate depending on the state of international trade d. stressed control of the money supply over control of the interest rate e. controlled whichever target that seemed to be important at the time